Cattle Trade Higher Ahead of Record COF
Large volumes of cattle traded in all regions this week at prices mostly $2 per cwt. higher. The bulk of the trade occurred at $105 live and $165 dressed.
Friday’s USDA cattle on feed report pegged the inventory at 11.4 million head, up 4% from last September, and the highest September inventory since the series began in 1996.
Placements in feedlots during August totaled 2.06 million head, 9% above 2019. Net placements were 2.00 million head. During August, placements of cattle and calves weighing less than 600 pounds were 405,000 head, 600-699 pounds were 335,000 head, 700-799 pounds were 470,000 head, 800-899 pounds were 522,000 head, 900-999 pounds were 230,000 head, and 1,000 pounds and greater were 95,000 head.
Marketings of fed cattle during August totaled 1.89 million head, 3% below 2019. Other disappearance totaled 55,000 head during August, 10 percent below 2019.